RIA Envia Inc.,
the third-largest global money transfer company and a subsidiary of
Euronet Worldwide Inc., has announced that it has
entered into a strategic agreement with Banco Nacional de Mexico, S.A., a unit of Citigroup, to send RIA and AFEX money transfers
to Mexico through the Banamex network.
RIA, established in 1987, has a global network of over 41,000 agents
offering consumer money transfer services in more than 95 countries and
territories. Acquired by Euronet, a leading electronic payments provider
in April 2007, RIA processes approximately $4.5 billion in money
transfers annually.
“We are very pleased to add Banamex to our correspondent network in
Mexico,” said Juan Bianchi, chief executive officer of RIA Envia Inc.
“Thanks to this agreement, our customers will now have access to over
4,500 new locations of the Banamex network, which include many Banamex
locations where our customers can receive their money seven days a week
and even 24 hours a day. Additionally, our agreement enables Banamex to
provide its customers with a greater level of choice for their money
transfer needs.”
Banamex, a unit of Citigroup, was established in 1884 and is the premier
financial institution in Mexico. The Banamex network presently has over
1,500 bank branches and more than 3,000 Banamex Aqui non-bank locations
throughout the country. Banamex’s extensive network will soon offer
payment of RIA and AFEX money transfers to customers in Mexico.
RIA works with Citigroup affiliates in several countries including
correspondent relationships with Banco Cuscatlan, the leader in money
transfers in El Salvador and throughout Central America and Grupo
Financiero Uno (“GFU”), the largest credit card issuer in Central
America. Both Banco Cuscatlan and GFU were recently acquired by
Citigroup. Additionally, Bancuscatlan Transfers Inc., also a unit of
Citigroup, recently signed an agreement with RIA to serve as its agent
in the U.S. in locations across New York, California, Texas, Maryland
and Virginia.
About RIA Envia Inc.
RIA, a Euronet Worldwide subsidiary, is the third-largest global
consumer-to-consumer remittance company. RIA’s primary services include
money transfer, bill payment, money orders and check cashing. The
company offers transfers under the brands RIA Money Transfer, AFEX Money
Express and Kim Phu Money Transfer. Originating money transfers across
13 countries in North America, the Caribbean, Europe and Asia, RIA
terminates transactions through an extensive payer network across 85
countries. For more information, visit www.riafinancial.com.
About Grupo Financiero Banamex
Grupo Financiero Banamex is a member of Citigroup, Inc., and it is the
leading financial group in Mexico with Banco Nacional de Mexico
(“Banamex”) founded in 1884. The group has an outstanding position in
the country’s financial markets through its affiliates, and it includes
deposits, consumer finance, handling resources from investment
partnerships and funds for retirement, insurance banking, pensions, and
stock market brokerage. The group has an extensive network of
distribution of over 1,500 branches, over 3,000 Banamex Aqui
Correspondents and 5,800 ATMs located throughout the country. For more
information, visit www.banamex.com.
About Citigroup Inc.
Citigroup, the leading global financial services company, has some 200
million customer accounts and does business in more than 100 countries,
providing consumers, corporations, governments and institutions with a
broad range of financial products and services, including consumer
banking and credit, corporate and investment banking, securities
brokerage, and wealth management. Major brand names under the trademark
red arc include: Citi, CitiFinancial, Primerica, Citi Smith Barney and
Banamex. Additional information may be found at www.citigroup.com or
www.citi.com
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